Joint bank accounts

coco1277_2

Hi , My husband has his bankruptcy hearing on thurs 22 jan , I am really worrying as we have a joint bank account where my child ben and child tax credit is paid into weekly . Will OR freeze this account if it is joint ? or could we maybe take husbands name off account and me just keep the account ? would OR still be interested in it. I handed forms in to open an account with barclays and was told this sort of account is taking around 10-14 days to open as they are very popular at the moment ( I wonder why lol ) So am worrying that when my benefits are due I wont be able to access them.
My husband is going to be opening an account for his wages to be paid into with barclays .
Any advice welcome
Thank you

DON79

Hi coco, I would recommend that you get your husbands name taken off the account prior to bankruptcy if you would like to keep that account open. Once your husband goes BR, the bank will likely close the joint account.

If he takes his name off it, then it is no longer his account.

Hope this helps. You can always change over to barclays after your benefits go in but for now, see if you can have his name taken off it.

coco1277_2

Thank you for your prompt reply Don , I was just worried that if I take OH name off and because he was on it the OR would still be interested in it . If I do take his name off the account and it is then just in my sole name would he still need to list it on the bankruptcy forms or could he just say he was using my account for his wages to be paid into.

DON79

Hi there was someone on here with a similar question recently, will see if I can find the thread for you, hang on a mo.......

badgermum

hiya i was asking something similar wanted advice on joint and individual accounts with same bank, husband had individual account then added my name a few months back he is now having to go bankrupt and i have opened an individual account in my name with same bank it looks like they are linked on my internet banking account wondered if they'll freeze both??? trouble is with my individual account i dont know if they'll pay the working tax credit in my husbands name into it???? god theres so many questions


:eek: :eek:

DON79

Hi can't seem to find what I was thinking of but if you did a search under joint account on the forum, it will bring up lots of similar posts. Sorry I could not find it. But i am fairly certain that the advice was - as long as his name is off the account before he goes BR, he does not have to put the account down on his BR forms......hope this helps a little. then he can say he is getting his wages paid into your account as this will be the truth, it will be your account.

Badgermum, they should not freeze an account that is not connected with the person going BR, because you will not be affected by the BR restrictions that your OH is going to have. So if the bank did this to you, you could complain big time and get them to reopen it. because they can only do this if you were going BR too and if his name is not on your account, it will not be affected. Best just to call and ask about the working tax credits payments.

coco1277_2

badgermum wrote: »

hiya i was asking something similar wanted advice on joint and individual accounts with same bank, husband had individual account then added my name a few months back he is now having to go bankrupt and i have opened an individual account in my name with same bank it looks like they are linked on my internet banking account wondered if they'll freeze both??? trouble is with my individual account i dont know if they'll pay the working tax credit in my husbands name into it???? god theres so many questions


:eek: :eek:

Hi Badgermum , I have just looked on tax credits website and it will be ok for your husbands working tax credit to be paid into your account . This is what it said on their website
Accounts you can use to receive payments

The account will need to be either:

• in your name
• in your partner's name
• both in your own and your partner's names
• in the name of someone acting on your behalf
• jointly in your own name and in the name of someone acting on your behalf

Hope that helps .

badgermum

thanks coco 1277 :money:

that helps big time me and hubby have decided first thing monday we are going into the bank to see if they are willing to take his name off the joint account, don't know if they will as that will leave me with two current accounts with them but with no regular money coming in. it would save so much agro though if they could do that.

skylight

If there is a debt on the joint account, you will not be able to remove his name from the account and it will be frozen by the OR. (plus the debt falls to you).

I would strongly recommend opening your own basic account with the Co-Op Cashminder or Natwest Step or Barclays Card Account. You cannot have overdrafts on these accounts, but you can have the benefits paid into them. Do it ASAP as you do not want your benefits paid into a frozen account as its hassle to get the money back. Its not difficult but hassle you can do without.

badgermum

hi skylight , we have no debt on our joint current account, suprisingly!!! but origionally the account was in my husbands name only then a couple of months ago we added my name to it and now we are hoping to take his name off, dunno if they will do this though, natwest are a definate no go for us!!

coco1277_2

Hi , Ok OH name has now been took off joint account and is now just in my name , Do I still need to put this account on the bankruptcy forms as he was on the account previously ? also his wages will still be going in to my bank account until he opens an account with Barclays tomorrow after he has been to court. Will this be ok ? OR wont touch account now will he now OH name if off it
Thanks